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What is Hundi? - Business Studies

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What is Hundi?

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Solution

Hundi can be defined as a financial instrument or a negotiable bill of exchange, which was used for carrying out trade and credit transactions during the Medieval period in India. A Hundi is primarily an unconditional contract or order which warrantees a monetary payment which can be transferred by valid negotiation.

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APPEARS IN

NCERT Ncert Class 11 Business Studies
Chapter 1 Business, Trade and Commerce
Short Answer Questions | Q 2 | Page 26
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